Markets / Class III Milk
Class III Milk
Nov Class III futures · $ per hundredweight
Download prices (CSV, opens in Excel): daily, 1 year · weekly, 10 years
Class III Milk is up 15.4% since January 1. By this point in a typical year (2021–2025) it was up 6.0%. From here to year-end, the price rose in 1 of the last 5 years, down 7.5% on average. Front-month futures. Past patterns don't predict prices; weather, demand and policy change every year.
Every contract month
Class III Milk futures trade every month.
Deferred months are priced above Nov Class III (a carry): the market is paying to store it.
| Month | Last | Change | vs. Nov |
|---|---|---|---|
| Nov Class III | 17.41 | +$0.16 | — |
| Dec Class III | 17.33 | -$0.03 | -$0.08 |
| Jan Class III | 17.37 | +$0.04 | -$0.04 |
| Feb Class III | 17.42 | unch | +$0.01 |
| Mar Class III | 17.49 | -$0.04 | +$0.08 |
| Apr Class III | 17.51 | -$0.02 | +$0.10 |
| May Class III | 17.58 | -$0.01 | +$0.17 |
| Jun Class III | 17.67 | +$0.01 | +$0.26 |
| Jul Class III | 17.79 | -$0.01 | +$0.38 |
| Aug Class III | 17.90 | +$0.05 | +$0.49 |
| Sep Class III | 17.98 | +$0.02 | +$0.57 |
| Oct 27 Class III | 17.95 | +$0.02 | +$0.54 |
Text me when Nov Class III hits my number
Pick the month and the price. We text you the second it trades there, plus class iii at 10:00 and 2:00.
Set up Nov Class III alertsEconomy
Fed funds target 3.75-4.00% (raised 25 basis points Sep 17, 2026). Dollar index 101.79, -0.4% this week, +3.5% from a year ago. A stronger dollar makes US grain and meat pricier overseas.
Why it moved
The next 10:00 or 2:00 report will explain today's move here.
About this market
CME Class III milk, 200,000 lb, cash-settled to USDA's announced Class III price (the cheese milk price most Upper Midwest pay prices follow). Every month trades.